Zurich Insurance is a leading global insurance company based in Zurich, Switzerland. As one of the largest insurance companies in the world they are always committed to provide their customers with innovative and tailored insurance solutions. A pilot project in Germany is discovering this field further and is led by the question: How can we improve the customer experience when a claim happens?
Success Story with Zurich
No Pain in Claim with Zurich Call
"Using Connected Car Data from CARUSO allows us to provide our customers for the first time with a seamless claims experience"
Horst Nussbaumer
Chief Operating Officer Zurich Group Germany
Challenge
Complex Claim Processes:
Customers often feel frustrated trying to understand the steps, paperwork, and documents needed to file a claim. This complexity leads to dissatisfaction and a lack of clear information, making customers feel sometimes frustrated and unsupported during the claim process.
Manual processes:
Some insurance companies have the potential to further embrace automation and digitization, which can lead to increased efficiency, reduced operational costs, and improved accuracy. By leveraging technologies like AI and machine learning, insurers have the opportunity to streamline claim handling and enhance customer satisfaction.
Communication and Transparency:
Customers have expressed a desire for more frequent updates on their claims, which would help them feel more informed and confident about the status of their case. Additionally, using clear language and providing thorough explanations of claim decisions can enhance policyholders’ understanding and satisfaction.
The Solution
Connected car data can play a crucial role in the First Notification of Loss process by providing insurers with real-time information about the incident. This process is the first step in the claims process, and it is important because it sets the tone for the entire claim.
With standardized multibrand connected car data from CARUSO Zurich gets real-time insights into what happened during a crash. For example like the speed of the car, the direction of impact, and the severity of the collision.
Based on that Zurich can quickly determine whether a claim is valid and provide policyholders with an estimate of the damages. Which can help them make faster and more accurate claims decisions, support there customers best and improves the claims experience.
Industry
The motor insurance industry provides protection against financial loss from damage to or theft of vehicles. It’s a complex industry that’s heavily regulated and constantly evolving to meet changing needs. New technologies, such as telematics and AI, are being used to improve the efficiency and effectiveness of motor insurance.
Used Data Items
- Crash Location, Crash Severity, Geolocation, Mileage…
Collaboration with CARUSO
Started in 2020 – up to date
Major Advantages Of The New Solution
Zurich Insurance strongly believes that connected car data can help to improve their motor claims business and provide more value to there customers. By using connected car data, they can gain a better understanding of how accidents happen, which can help to improve the accuracy of their claims assessments. This data also helps them to detect frauds and provide a more personalized service to their customers and overall a better experience.
Improved claim handling:
By using artificial intelligence and data analysis, Zurich Insurance optimizes its claim processes and provides a more efficient and hassle-free experience for their customers.
Enhanced Claims Handling Efficiency:
By using connected car data, Zurich can more quickly and accurately assess the extent of damages to a vehicle following an accident. This results in faster claims processing times and reduced costs for Zurich, and a more satisfactory experience for customers who receive prompt payouts.
Improved Customer Experience:
Personalized insurance policies and faster claims processing times are key ways in which connected car data can improve the customer experience. This leads to more satisfied customers and long-term customer retention.
”Obviously, we will continue to innovate and use technology to better serve our customers and meet their involving needs. But we need technologies like Connected Car Data are just the beginning.
Horst NussbaumerChief Operating Officer Zurich Group Germany
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